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Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
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Name : |
PRODESK CO LTD |
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Registered Office : |
12-1 |
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Country : |
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Financials (as on) : |
31.07.2013 |
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Date of Incorporation : |
July 1999 |
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Com. Reg. No.: |
0300-01-032662 (Saitama-Kazo) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of clean room products: dust-proof suits, nitrile gloves, latex gloves, electrostatic fingerstall,
sports uniforms, work wear, other |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World
War II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped
Japan develop a technologically advanced economy. Two notable characteristics
of the post-war economy were the close interlocking structures of
manufacturers, suppliers, and distributors, known as keiretsu, and the
guarantee of lifetime employment for a substantial portion of the urban labor
force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of time
for firms to reduce excess debt, capital, and labor. Modest economic growth
continued after 2000, but the economy has fallen into recession three times
since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Prime Minister Shinzo ABE has
declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 stood as the fourth-largest economy in the world after second-place
China, which surpassed Japan in 2001, and third-place India, which edged out
Japan in 2012. The new government will continue a longstanding debate on
restructuring the economy and reining in Japan's huge government debt, which is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy.
|
Source
: CIA |
PRODESK CO LTD
KK Prodesk
12-1 Hatoyamamachi Kazo City Saitama-Pref 347-0019 JAPAN
Tel:
0480-67-0215
Fax: 0480-67-0216
URL: N/A
ACTIVITIES: Mfg
of clean room suit, gloves, fabrics
BRANCHES: Nil
FACTORIES: At the caption
address
OFFICER(S): KEN’ICHI
KASAHARA, PRES
Chiyoko Sato, dir
Tsuneo Aoyama, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES R/WEAK A/SALES Yen 100 M
PAYMENTSSLOW BUT
CORRECT CAPITAL Yen 10 M
TREND SLOW WORTH Yen 32 M
STARTED 1999 EMPLOYES 2
MFR OF CLEAN-ROOM SUITS,
GLOVES, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
The subject
company was established by Ken’ichi Kasahara in order to make most of his experience in the
subject line of business. This is a
family-based specialized mfr of clean-room products: anti-dust suits, gloves,
masks, fingerstall, other. Clients
include semiconductor mfrs, food processors, pharmaceuticals, medical, other.
Financials are only
partially disclosed as is the case with family-based companies.
The sales volume
for Jul/2013 fiscal term amounted to Yen 100 million, a 17% down from Yen 120
million in the previous term. This is
referred to the rising costs of materials.
The operations plunged into the red to post Yen 2 million net losses,
compared with Yen 1 million net profit a year ago.
For the term that
ended Jul 2014 the operations were projected to come back to profitability to
post Yen 3 million net profit, on a 5% rise in turnover, to Yen 105
million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
Date Registered: Jul 1999
Regd No.: 0300-01-032662
(Saitama-Kazo)
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%): Ken’ichi Kasahara (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
clean room products: dust-proof suits, nitrile
gloves, latex gloves, electrostatic fingerstall, sports uniforms, work wear,
other (--100%)
Clients: [Mfrs,
wholesalers] Dai Nippon Printing Co, Tateishi Filter,
Japan Apparel Service, Mataichi Hirose Co, Atom Kousan Corp, Nippon CR Products, other
No. of accounts: 300
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Dunlop Home Products, Mitsu-Uma Co, YKK
Fastening Products Sales, Asoya, other.
Payment record: Slow
but correct
Location: Business area in
Kazo City, Saitama-Pref. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
SMBC (Kasukabe)
Saitama Resona Bank (Washinomiya)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/07/2014 |
31/07/2013 |
31/07/2012 |
31/07/2011 |
|
Annual
Sales |
|
105 |
100 |
120 |
105 |
|
Recur.
Profit |
|
.. |
.. |
.. |
.. |
|
Net
Profit |
|
3 |
-2 |
1 |
1 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
32 |
34 |
33 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical
Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
5.00 |
-16.67 |
14.29 |
-17.97 |
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Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
.. |
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N.Profit/Sales |
|
2.86 |
-2.00 |
0.83 |
0.95 |
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/07/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.